Mahindra Holidays & Resorts India Ltd. (MHRIL), India’s largest vacation ownership company and part of the Mahindra Group, today announced its third quarter results.
Strong expansion in Greenfield resorts – Virajpet, Kanha, Naldehra and Munnar creating over 400 new rooms
- Operating Income up 13%, PAT stood at INR 30 Cr up 14%Mahindra Holidays & Resorts India Ltd. (MHRIL), India’s largest vacation ownership company and part of the Mahindra Group, today announced its third quarter results.
Highlights FY- 2013 Q3 results
- The 3rd quarter Operating Income grew by 13% over the same quarter last year to end at INR 179 Cr. The net profit after tax (PAT) grew by 14% over the same quarter last year to end at INR 30 Cr.
Continuing its thrust on Greenfield expansions, MHRIL is scheduled to open its new resort in Virajpet at Coorg shortly. Work on a new resort at Kanha, Madhya Pradesh has also begun.
Himachal Pradesh has been a very popular destination, not only for the north but also for members across the country. Seeing this demand MHRIL has commenced work on building yet another resort in Himachal Pradesh.
MHRIL’s first resort at Munnar has been a member favourite for over a decade and work to augment the inventory by almost 50% has started.
Mr. Arun Nanda, Chairman, MHRIL said, “Our strong performance has continued to give us the confidence in making very large investments in inventory addition. The strategy of combining inventory acquisition with building inventory is one we have successfully leveraged. The advantage with building inventory is the ability to create and manage the end to end family holiday’s experience that the brand Club Mahindra has now become a benchmark for”.
Member empowerment continues to be the other focus area. Online reservation by members has moved close to 40%, which is very close to the levels achieved by mature operators in developed countries. Cross functional teams across the organization are working on an extensive and intensive pro active member engagement initiative that includes member induction, holiday planning and holiday experience creation. This will considerably enhance member satisfaction.
Mr. Rajiv Sawhney, Managing Director & CEO, MHRIL said, “We have focused our attention on growing our network, empowering our members and creating automation. Our investments in intelligent systems have added the cutting edge to our member engagements, helping us create member delight. We will continue our focus on creating member delight alongside our growth ambitions”